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Academic opines on Toronto’s foreign investment

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Real Estate Professional | 02 Sep 2016, 08:15 AM Agree 0
One political scientist is urging policymakers in Toronto to ignore arguments against Vancouver’s 15% foreign buyer task if they hope to avoid a similar housing crisis in Canada’s largest city
  • Jon | 02 Sep 2016, 10:45 AM Agree 0
    Not to be a complete jerk, but the headline says it all: "academic opines". We need genuine math, not random thoughts from the other side of the country on this. Toronto also has it's own land transfer tax to be paid in addition to the provincial one, so adding a third tax might prove to be unreasonable. The vacant property tax actually has more potential merit, since a foreign national living here who can afford a $2 million home but who balks at $372,000 in tax (Toronto LTT, Ontario LTT plus 15% foreign head tax) will simply rent the same mansion from a wealthy investor (or controls a company) who is Canadian. I suspect that Ontario needs more foreign investment right now, rather than less of it.
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